Expat Money Newsletter

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Expat Money Newsletter - May 2015

Your Latest Free-To-Use Money News & Resources

Welcome to the first edition of the Expat Network Money newsletter. Here we will compile details of the most compelling matters in expat personal finance and email them to you every month.

Expats are in a very special position in the world of money. It is important to understand your residence and tax position to make the most of what you earn while on assignment overseas. At Expat Network we endeavour to keep you up to date with all the personal financial matters that may affect you.

In this edition of the Money newsletter we look at which credit cards it is best for expats to use abroad and how the UK’s new pensions rules affect you. Also covered below are details of how expats in the US must comply with stringent tax laws and where it is best to place bank savings to earn higher rates of interest.

I hope you enjoy this newsletter. I welcome your thoughts on other topics you would like us to cover. Or do you have your own tale to tell or question to ask about expat money? Let me know.

Also, feel free to forward this newsletter to anyone who you feel may benefit from reading it.

Iain Yule

Editorial Director
Expat Network
iain@expatnetwork.com

Expats: Are You Prepared For The UK’s Pensions Changes?

Highly significant changes have been made to the UK’s pensions laws. While you are non-resident you may think they do not affect you, but they may well do. Read our linked features on the changes here.

The pensions changes have also encouraged the scammers to try to part expats from their pensions savings. Read our warning here.

Is Your Credit Card The Best One To Use While Working Overseas?

Will you be charged a mark-up fee by your credit card company for using your card abroad? Is your card even accepted in your new country? The answers to these questions and details of the top five cards to use abroad can be found here.

British Expat In The States? Watch Out For The Taxman

The foreign account tax compliance act (FATCA) gives the US taxman, the IRS, sweeping powers to investigate your financial affairs. Make sure you comply or face the potentially painful fiscal consequences. Read our report here.

Get The Best Offshore Bank Savings Rates

If you have money to save, make sure it fetches the best interest rate. Currently best for sterling savers is Skipton International’s 1.5%, if you have £10,000 and can give 100 days’ notice of withdrawals.

For dollars, Nationwide International pays 1% for $25,000 or more, with instant access. Nationwide International is also best for euros, paying 0.65% for €25,000 or more, again with instant access.

The only way to beat these rates is to lock your money away for longer. If you can leave at least £10,000 untouched until the end of May 2018 then 2.2% annual interest is on offer from Skipton International.

See more rates and how offshore banking works here.

Expat Money: Your Questions Answered

At expatnetwork.com you’ll find an archive of some of the most frequently asked expat money questions with answers from financial experts. Among the latest questions answered is a crucial one for a long-term expat: can I get my UK state pension while abroad? See the answer to this and other queries here.

Is The Time Right To Buy Property On The Med?

Tumbling property prices in southern Europe and the pound’s strength against the euro means there may now be big bargains to be had for the British house hunter. Read our report here.

The Expat Network

Expat Jobs, Money & Tax, Insurance and News for Contractors Working Overseas. Click Here.

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